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Full text of "Annual Evaluation Report Fiscal Year 1984"

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522-1

COLLEGE HOUSING PROGRAM
(CFDA No. 84.142)

I. PROGRAM PROFILE

Legislation: Housing Act of 1950, Title IV, P.L. 81-475 (12 U.S.C 1749)
Participation Sales Act of 1966, P.L. 89-429 as amended by Housing and Urban
Development Act of 1965, P.L, 89-117, Department of Education Organization
Act, Sec. 306, P.L. 96-88, Department of Education Appropriation Act of
1984, Sec. 308, P.L. 98-139. (No expiration date)

Funding Since 1980:

Fiscal  Year                   Authorization                    Appropriation

Annual           Permanent

1980                              Indefinite           $13,645,000       $212,000

1981                                         "                                  0                    279,000

1982                                        "                                  0                    232,000

1983                                        "                                  0                      40,000

1984                                    "                               0                            0
Purpose:    To   alleviate   severe   student   and   faculty   housing   and   related
facility shortages  through  the   support  of new construction,  acquisition,
and rehabilitation   and   to   reduce   fuel   consumption   and   other   operating
costs of existing facilities.    Recently,  loans have been limited to cost-
effective energy   conservation,   rehabilitation,   renovation,  and  relief   of
severe local housing shortages.

Eligibility: The College Housing Program enables the Secretary of Educa-
tion to make direct Federal loans to higher education institutions and
certain other eligible college housing agencies at 3 percent interest.
The funds are made available through a revolving fund financed with U.S.
Treasury borrowings and proceeds from the sale of public securities
(participation certificates, backed by pools of existing college housing
loans) marketed through the Government National Mortgage Association (GNMA).

II.    RESPONSE TO GEPA 417(a)

A.   Goals and Objectives

During FY   1984,   the   Department's   principal   objectives   for  the   College

Housing Program were:

o Provide low interest loans to institutions of postsecondary education
for the purchase, construction, or rehabilitation of housing and related
facilities in order to relieve severe housing and related facility
needs 1n the higher education community.           $341,600